Customs authorities at the Mumbai airport on Tuesday detained one of India’s top stockbrokers Ketan Marwadi with expensive foreign brand watches, mobile phones, handbag, Indian currency and other items worth Rs 8 lakh.

Customs authorities at the Mumbai airport on Tuesday detained one of India’s top stockbrokers Ketan Marwadi with expensive foreign brand watches, mobile phones, handbag, Indian currency and other items worth Rs 8 lakh.

Though Marwadi tried to undervalue the goods he was carrying, a search of his person yielded bills (of these items) that he had concealed in his socks, officials said.

A Customs team, headed by deputy commissioner Sameer Wankhede, intercepted Marwadi at the Chhatrapati Shivaji International Airport after he arrived from Dubai by an Emirates flight at 3am. Marwadi told Customs that he had gone to Dubai for a business meeting.

Marwadi was later handed over to the Air Intelligence Unit (AIU) of Mumbai Customs.

AIU sources said the officials suspected Marwadi because he was walking through the green channel at a fast pace.

Officials first noticed the Cartier watch whose value Marwadi gave as Rs80,000 to Rs90,000. Marwadi did not give the exact value of the mobile and said it could be worth between Rs1-2 lakh. He told authorities he did not know the cost of the Cartier handbag as it was a gift.

Marwadi also told officials that he had forgotten to remove the Rs50,000 cash that was in the bag and had carried it from India. A passenger cannot carry more than Rs7,500 in cash abroad.

“On being searched, officials found the bills in his socks,” an AIU official said. Marwadi said he was unaware of the rules.

Marwadi was allowed to go after recording his statement.

The authorities found that Marwadi made these purchases through credit card.

Additional commissioner of Customs, AIU, Mahendra Pal confirmed that Marwadi was found carrying undeclared goods. and that he had concealed the bills in his socks. Marwadi said it was a routine checking. He also said the goods were purchased in Dubai and India.